Alta Fundamental Advisers LLC Has $8.60 Million Holdings in Builders FirstSource, Inc. (BLDR)
Alta Fundamental Advisers LLC trimmed its position in Builders FirstSource, Inc. (NASDAQ:BLDR) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 561,600 shares of the company’s stock after selling 28,400 shares during the period. Builders FirstSource makes up approximately 7.4% of Alta Fundamental Advisers LLC’s holdings, making the stock its 7th biggest holding. Alta Fundamental Advisers LLC owned 0.50% of Builders FirstSource worth $8,604,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in Builders FirstSource by 15.2% in the second quarter. The Manufacturers Life Insurance Company now owns 75,840 shares of the company’s stock valued at $1,161,000 after acquiring an additional 10,016 shares in the last quarter. CWH Capital Management Inc. boosted its stake in Builders FirstSource by 2.3% in the second quarter. CWH Capital Management Inc. now owns 410,515 shares of the company’s stock valued at $6,289,000 after acquiring an additional 9,330 shares in the last quarter. State Street Corp boosted its stake in Builders FirstSource by 15.4% in the second quarter. State Street Corp now owns 1,782,539 shares of the company’s stock valued at $27,313,000 after acquiring an additional 238,089 shares in the last quarter. Horizon Investment Services LLC acquired a new stake in Builders FirstSource in the second quarter valued at approximately $444,000. Finally, Lonestar Capital Management LLC acquired a new stake in Builders FirstSource in the second quarter valued at approximately $3,141,000. Institutional investors own 85.44% of the company’s stock.
Several brokerages have weighed in on BLDR. Zacks Investment Research downgraded shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG lifted their price objective on shares of Builders FirstSource from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. FBR & Co reiterated a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Finally, Wedbush reiterated a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.33.
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In related news, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $16.17, for a total transaction of $218,006,802.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cleveland A. Christophe sold 36,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.66, for a total transaction of $599,760.00. Following the sale, the director now owns 48,181 shares of the company’s stock, valued at approximately $802,695.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,645,368 shares of company stock valued at $220,735,138. 14.60% of the stock is owned by company insiders.
Shares of Builders FirstSource, Inc. (NASDAQ BLDR) traded up 2.52% on Friday, hitting $17.93. 852,237 shares of the company traded hands. The stock’s 50-day moving average price is $16.59 and its 200-day moving average price is $15.55. The company has a market capitalization of $2.02 billion, a PE ratio of 11.87 and a beta of 2.09. Builders FirstSource, Inc. has a 12 month low of $9.04 and a 12 month high of $18.23.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. Builders FirstSource’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. On average, equities analysts predict that Builders FirstSource, Inc. will post $1.11 earnings per share for the current year.
Builders FirstSource Profile
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.
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